New housing program makes it possible to buy a house through the lease

Writing economics

The government announced the opening of Semillero de Propietarios, an initiative that aims to subsidize the lease and offers a purchase option to one million Colombians. The initiative will begin receiving registrations in March 2019.

The national government presented its new housing program, which includes the possibility of leasing, but with the option to buy.

The program, called Semillero de Propietarios, establishes that the government will subsidize a percentage of the rent of a family. Part of that amount in turn goes to a savings account.

Also read: How to buy a house?

One of the interesting points is that these savings can be combined with the housing purchase subsidy received through the Mi Casa Ya program, which supports initial installments of up to $ 23 million.

The Ministry of Housing gives this example to explain the benefits of Semillero de Propietarios: "The beneficiary household will contribute $ 350,000 and the government $ 350,000, for a $ 700,000 lease, of which $ 200,000 will be allocated to the savings that the The savings can be added to the subsidy of the initial contribution of the Mi Casa Ya program, which amounts to a maximum of $ 23 million and will pay the value of the mortgage loan on a monthly basis. Up to five points at the rate ".

The lease support program can be extended by up to two years. In the example used, the beneficiary family saved $ 5 million, which may be added to the subsidy of the quota to purchase housing through Mi Casa Ya.

"Colombia is a country that is let, 44% of the population lives on rent, while this figure in Latin America is between 10% and 20%." With this program we hope to encourage the purchase of housing and promote inclusion in the informal sector, "said Jonathan Malagon, housing minister.

The ministry's calculations show that at least 25% of the people living in low-quality housing (just over 1.8 million) live.

According to Malagón, the advantages of Semillero are the Propietarios for tenants and owners, as it tries to combat the informality in the house, so that the government will exercise a more active vigilance with regard to rents.

Also read: Abecé to buy a house without a down payment

The lease support program, with purchase option, will be operational from July 2019, although registration will start in March of next year and only applies to urban housing (new or used).

According to information from the ministry, the people to whom the new housing program is aimed, ideally "a score in the Sisbén". Likewise, if the person is registered in the Unified Victims Registry, they receive an extra score.

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